North India Statesman
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News India Live, Digital Desk: EXPANSION of ‘America First Policy: Government led by US President Donald Trump has recently taken tough measures against its business partners, which started from Canada. Softwood Lumber imported from Canada has been levied a 35 per cent huge fee, which is deepening the decades-old trade dispute between the two countries. The Trump administration says the step is part of the policy of ‘USA First’, under which they want to protect American industries and employment. President Trump clearly believes that many countries are taking unfair advantage of America in the name of free trade and they consider it as ‘unfair’ trade. Their priority is to keep the interests of American companies and workers supreme. In addition to imposing duty on softwood lumber with Canada, the US has also accused Canada of banning dairy products. The US Trade Representative (USTR) has said to take strict action against Canada on the issue, which has increased tension between these two neighbors in North America. Trump has also warned that if other countries do not change their business policies and do not take care of American interests, then America can consider imposing a customs duty (border tax) up to 20 per cent on imported goods. Such aggressive trading move has increased the risk of trading war globally. If this happens, it will directly affect American consumers as imported goods will become expensive and their costs will increase. Overall, Trump is constantly trying to fulfill its election promises and to rescue the US from the trade deficit, even if he has to take tough and controversial decisions.
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